Fenix Resources (FEX) investor relations material

Executive summary

• Achieved record iron ore production of 4.4 million tonnes in FY 2026, up over 74% year-over-year, with more than 70 vessels shipped and significant operational complexity managed safely.

• Revenue rose 87% to AUD 590 million, EBITDA increased nearly 50% to AUD 81 million, and NPAT surged 128% to AUD 12.3 million compared to FY 2025.

• Secured a 30-year exclusive license/Right to Mine Agreement for the 290 million tonne Weld Range resource, supporting future growth to 10 million tonnes per annum.

• Fully franked final dividend of AUD 0.01 per share declared, totaling AUD 7.7 million and representing a 63–64% payout of NPAT.

• Significant safety improvements with TRIFR reduced by 47% to 4.9 and expanded board and workforce focused on safety and shareholder value.

Financial highlights

• Revenue increased 87% to AUD 590 million; EBITDA rose nearly 50% to AUD 81 million; NPAT surged 128% to AUD 12.3 million.

• Operating cash flow grew 33% to AUD 96 million; year-end cash balance up 45% to AUD 81 million.

• Group C1 cash costs remained stable at AUD 74 per tonne despite an 80%+ increase in volume.

• Capital expenditure totaled AUD 50.7 million, mainly for Beebyn-Hub development.

• Fully franked final dividend of AUD 0.01 per share declared, representing a 63–64% payout of NPAT.

Outlook and guidance

• FY 2027 guidance targets midpoint production of 5 million tonnes, with costs expected to remain between AUD 70–80 per tonne.

• Beebyn Hub and new crushing plant to come online in Q2 FY 2027, expected to deliver unit cost savings.

• Three-year plan continues, with capital program completion expected by end of H1 FY 2027 and drawn debt to begin reducing thereafter.

• Long-term strategy to ramp up to 10 million tonnes per annum by 2032, with projected costs reducing to AUD 55 per tonne pending Weld Range DFS.

• FY 2027 and FY 2028 sustaining capital expected at AUD 20 million per year, with additional growth capital planned.